Coming back from the summer break, the Fraser Valley market stats are telling quite different stories for the attached and detached segments of the market.
Townhomes and apartments continue to increase their lead over detached homes, counting for more than half of all home sales. Benchmark prices are up month-over-month again for attached homes, with apartments leading the charge at a 2.5% price increase. Days on market remains steady at less than 3 weeks with continued low supply and strong demand holding sale prices above list price. The attached segment remains a seller’s market.
Conversely, the detached segment has returned to a much more balanced market. The benchmark price for a detached home fell for the first time since January 2017. Sale price as a percent of original list price remains below 100% for detached homes, reaching 98% in September. Days on market took a 16% bump up, with the average detached home taking 4 days longer to sell in September than in August.
Check out our curated summary of the Fraser Valley Real Estate Board’s September stats in infographics here.
View the Fraser Valley Real Estate Board’s entire stats package for September 2017 here.
This representation is based in whole or in part on data generated by the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy.